Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Fiducient Advisors LLC

Fiducient Advisors LLC boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 3,243.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,944 shares of the industrial products company’s stock after buying an additional 35,839 shares during the quarter. Illinois Tool Works accounts for approximately 1.1% of Fiducient Advisors LLC’s holdings, making the stock its 22nd biggest holding. Fiducient Advisors LLC’s holdings in Illinois Tool Works were worth $9,737,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its position in Illinois Tool Works by 1.2% in the 1st quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock worth $1,171,006,000 after purchasing an additional 51,654 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Illinois Tool Works by 2.4% in the second quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after acquiring an additional 62,645 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Illinois Tool Works by 9.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock valued at $361,998,000 after acquiring an additional 133,853 shares in the last quarter. Guinness Asset Management LTD boosted its holdings in shares of Illinois Tool Works by 4.6% in the third quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock valued at $210,447,000 after acquiring an additional 35,145 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Illinois Tool Works by 7.3% in the second quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company’s stock valued at $176,047,000 after acquiring an additional 50,753 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ITW. Truist Financial increased their price objective on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group dropped their price objective on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Evercore ISI dropped their price objective on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Wells Fargo & Company increased their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Finally, Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $255.44.

Illinois Tool Works Price Performance

NYSE:ITW opened at $264.16 on Thursday. The company has a 50-day moving average of $254.96 and a 200-day moving average of $247.27. The company has a market capitalization of $78.43 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a 52 week low of $221.82 and a 52 week high of $271.15. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the firm posted $2.41 EPS. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.27%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is currently 58.82%.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.